Bakkt (NYSE: BKKT) CFO exercises options, holds 56,106 shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Bakkt, Inc.’s Chief Financial Officer Alexander Karen exercised stock options to acquire 335 shares of Class A common stock at $10.00 per share on May 15, 2026. After the exercise, he directly holds 56,106 shares, including 18,852 shares subject to restricted and performance stock units that still must vest.
The options exercised are part of a grant that requires a predetermined number of options to be exercised each quarter over eight quarters at $10.00 per share, with each quarterly tranche exercisable only during a defined two-day exercise period, subject to blackout-period adjustments.
Positive
- None.
Negative
- None.
Insider Trade Summary
335 shares exercised/converted
Mixed
2 txns
Insider
Alexander Karen
Role
Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (right to buy) | 335 | $0.00 | -- |
| Exercise | Class A Common Stock | 335 | $10.00 | $3K |
Holdings After Transaction:
Stock Option (right to buy) — 26,176 shares (Direct, null);
Class A Common Stock — 56,106 shares (Direct, null)
Footnotes (1)
- Includes 18,852 shares of Class A Common Stock subject to restricted stock units and performance stock units that remain subject to vesting. Represent stock options to purchase shares of the Issuer's Class A Common Stock ("Options") granted on July 29, 2025. The Options are a commitment by the grantee to exercise a predetermined number of Options every quarter for eight quarters (the "Committed Options") at an exercise price per share equal to $10,00, which reflects the fair market value of a share of Class A Common Stock on the grant date. If the reporting person does not exercise the Committed Options in any quarter, then all remaining Options are forfeited. One-eighth of the Options will become exercisable each quarter (each, a "Quarterly Tranche"). The Committed Options are exercisable over a two-day period in the applicable quarter (the "Exercise Period"); provided that if the Exercise Period for a Quarterly Tranche occurs during a blackout period, then such Exercise Period shall instead be the next quarterly Exercise Period.
Key Figures
Options exercised: 335 shares
Exercise price: $10.00 per share
Shares held after transaction: 56,106 shares
+3 more
6 metrics
Options exercised
335 shares
Class A common stock acquired via option exercise on May 15, 2026
Exercise price
$10.00 per share
Strike price for exercised stock options
Shares held after transaction
56,106 shares
Direct Class A common stock holdings after exercise
Unvested RSUs/PSUs
18,852 shares
Shares subject to restricted and performance stock units still vesting
Remaining options
26,176 options
Stock options to purchase Class A common stock after exercise
Quarterly tranches
8 quarters
Option grant requires exercise of committed options each quarter
Key Terms
restricted stock units, performance stock units, stock options, Quarterly Tranche, +1 more
5 terms
restricted stock units financial
"Includes 18,852 shares of Class A Common Stock subject to restricted stock units and performance stock units that remain subject to vesting."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
performance stock units financial
"Includes 18,852 shares of Class A Common Stock subject to restricted stock units and performance stock units that remain subject to vesting."
Performance stock units are a type of company award that grants employees shares of stock only if certain performance goals are met. They motivate employees to work toward specific company achievements, aligning their interests with those of shareholders. For investors, they can influence a company's future stock supply and reflect management’s confidence in reaching key targets.
stock options financial
"Represent stock options to purchase shares of the Issuer's Class A Common Stock ("Options") granted on July 29, 2025."
Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.
Quarterly Tranche financial
"One-eighth of the Options will become exercisable each quarter (each, a "Quarterly Tranche")."
blackout period financial
"provided that if the Exercise Period for a Quarterly Tranche occurs during a blackout period, then such Exercise Period shall instead be the next quarterly Exercise Period."
A blackout period is a temporary window when company insiders, employees or certain plan participants are barred from buying or selling the company’s stock, usually around earnings releases or other material events. It matters to investors because it reduces the risk of unfair trading based on secret information and can affect share liquidity and timing—think of it as a “no trading” zone set to keep the market fair and orderly.
FAQ
What insider transaction did Bakkt (BKKT) report for CFO Alexander Karen?
Bakkt reported that CFO Alexander Karen exercised stock options to acquire 335 shares of Class A common stock at $10.00 per share. The transaction was coded as an option exercise, not an open-market purchase or sale.
What is the strike price and size of the options exercised by Bakkt (BKKT) CFO?
The CFO exercised stock options covering 335 shares of Bakkt Class A common stock at an exercise price of $10.00 per share. These options are part of a larger grant that must be exercised in specified quarterly tranches over eight quarters.
How are the Bakkt (BKKT) CFO’s stock options structured over future quarters?
The options were granted with a commitment to exercise a predetermined number each quarter for eight quarters at $10.00 per share. One-eighth becomes exercisable per quarter within a two-day exercise period, which can shift if it falls during a blackout period.